The Turnaround Management Society (TMS) has finished it’s most ambitious project to develop a standard for turnaround management practitioners. The project was set for three years and lead by Christoph Lymbersky director and lead project manager of the Turnaround Management Society.
Turnarounds are a very common situation that statically 30% of the listed companies on the NYSE run into within ten years. The research led by Christoph Lymbersky of turnaround cases suggests that a lot turnarounds are done in house by the companies themselves, few have professional turnaround help.

In business, crisis management is practically unavoidable. Mistakes will be made. Accidents will happen. Products will be flawed. Acts of God will continue. Since you can’t avoid crises, you’d better prepare for their inevitable eventuality, and: act promptly, intelligently, decisively, strategically, politically, sensitively, honestly, and with a genuine effort to resolve the issue and prevent [...]

Emergency/Crisis Management Planning needs vary with the industry, type of operations, and regulatory applicability; however, the following guidelines can be used for any situation: WHAT ARE YOUR HAZARDS? The first step is to Identify vulnerabilities and hazards associated with your operation. No one understands your operation better than you. Ensure that emergency, business continuity, and [...]

“Manage from the bottom up; not just from the top down; this creates personal commitment and accountability.” – Bryce’s Law INTRODUCTION A couple of months ago we started a free service to analyze a person’s style of management. Through our “Bryce Management Analysis,” a manager answers a series of questions (30 in all) and, based [...]

In today’s global marketplace, complexity and speed are essential factors to survive. If we try to have close look on different projects taking place in various corners of the world, they all are being initiated under tight budgets with fewer resources than ever before.  Apart from this, project-based business is growing bigger and bigger every [...]

Define the scope and objectives For any project to be successful you need to understand what the project is supposed to achieve. Suppose your boss asks you to organise a campaign to get the employees to donate blood. Is the aim of this to get as much blood donated to the local blood bank? Or, [...]

In 2003, the FBI undertook the massive initiative of consolidating its data into one centralized case management system and upgraded to the new Virtual Case File (VCF) system, a networked system used for tracking criminal cases.  However, more than a year and $170 million later, the VCF was far from operational, and the costs continued [...]

All projects are really about change. Let’s take my favorite project of all time: the pyramids of Egypt. Imagine a sweltering desert with miles of sand, snakes, and other scenes from an Indiana Jones film. Add a few million workers, some great plans, some scary mummies, and you’ve got the pyramids. All right, so my [...]

If you are thinking about using a project management consulting company to assist your organization with implementing a Project Management Office (PMO), there are a couple of important factors that you should consider when choosing the right firm. According to PMAlliance, Inc., an Atlanta, Georgia-based project management consulting company, implementing a PMO can present significant challenges.  [...]

PRINCE2™ PRINCE2™ is a project management method sponsored by the UK government via the Office of Government Commerce. It focuses on describing the processes, products and responsibilities required to manage a project in a controlled environment. Its roots are in government contracts and if provides a consistent approach to the implementation of major projects. Some [...]